High Rise in Dalata Revenues for First Half

Dalata, the hotel group which runs the Maldron hotels among others, has reported that its revenues for the first six months of the year were €35 million. This represents a 31 per cent increase on the same period last year.

The group said that it benefitted from strong growth in the tourism sector and an improvement in domestic consumer sentiment and that growth was driven by the addition of the Maldron Hotels at Dublin Airport and Tallaght, as well as an improvement in existing business.

The group, which successfully floated in March, said that Ebitda for the period rose by 171 per cent to €2.4 million, up from €0.9 million for the same period last year. Pre-tax profit was €943,000, a marked improvement on a loss of €1.7 million for the same period in 2013.

Dalata's CEO Pat McCann commented that "we are confident of the remainder of 2014 with strong momentum maintained.

“The sustained commitment of Government to the development and support of the tourist industry through a combination of investment, promotional and fiscal measures has revived confidence in the hotel sector."

Dalata expects Ebitda for the full year to be between €7.5 million and €8 million, excluding the effect of acquisitions; up from €5.3 million in 2013.

Dalata operates a mixtures of owned and leased hotels and has more acquisitions in its sights. It announced this morning that it is to purchase the Tower Hotel in Derry City for £4.375 million. The hotel will be rebranded as a Maldron and the sale should be completed by the end of October.